Fix 'em Up, Rent 'em Out: How to Start Your Own House Fix-up & Rental Business in Your Spare Time; or, Investing in Real Estate and Creating Wealth with Fixer-Upper Houses

by Terry W. Sprouse

This book describes how to get started repairing houses and renting them out in your spare time. It covers various aspects such as house selection, what to repair, handling tentants, managing the books, and taxes. The book describes the two safest ways to make money in real estate, and one chapter is devoted the the "Zen of Repairing Properties." The author uses examples from his own experinces, humor and motivational examples to encourage the reader down a path that will be both financially rewarding and deeply satisfying.

Genres: Nonfiction

148 pages, Paperback

First published September 19, 2007

About the author

My most recent book is "How Abraham Lincoln Used Stories to Touch Hearts, Minds, and Funny Bones." I am now working on a second Lincoln book, "The Abe Lincoln Bootcamp: "Make Each Day Count and Awaken the Sleeping Giant Within."

I make frequent presentations to groups about Abe Lincoln and Storytelling.

I formerly worked for the state of Arizona for 14 years. During that time, I started a business in my spare time buying fixer-upper houses and turning them into rental properties.

In another life, I was a Peace Corps Volunteer in Honduras, where I worked as a teacher trainer in rural schools, and started chicken projects.

My first book, “Fix em Up, Rent em Out,” was an award-winning finalist in the National Best Book Awards.

My wife, Angy, and I joined forces to pen, "Turn Your Home Into a Rental House, Instead of Selling It!" It was named the winner of the 2013 USA Best Book Awards: Real Estate Category.

I reside in Tucson, Arizona with my wife, 2 boys (affectionately referred to as “I want” and “buy me”), and Blackie, the wonder dog.

Reviews

[Vardan Partamyan · Rating 5 out of 5]

Mr. Sprouse is a natural born storyteller... his insight and his understanding of the topic is conveyed in an understandable, to-the-point way managing to be informative but refraining from the lecturing tone. It feels like you are having a beer with your good friend on the porch and he is sharing his positive experience in dealing with a potentially lucrative undertaking. Highly recommended!

[Sunayna Prasad · Rating 5 out of 5]

This book has a lot of interesting information. I learned a lot of advantages about owning more than one house. The book tells you what is necessary for houses and managing them. If you're interesting in buying a house, I would highly recommend this book.

[Whitney Coffee · Rating 5 out of 5]

Tons of great info when you’re ready to start investing in rental real estate

[Kathie · Rating 4 out of 5]

“Fix Em Up Rent Em Out”
By Terry Sprouse

Hindsight is 20/20!
Loved this book. Easy to read and jammed packed with tips that will keep the “fixer uppers” and “flippers’ out of trouble.
Read page 84 on “The Five Rules on How to Lose Money and get your Rental Property trashed by Tenants” as it may bring reminders or tears of your own experiences as a landlord. As a property owner, I am the “frugal” one, and my husband is the all out spender- top of the line everything guy. I gave him the book for his birthday!!! It’s easier to hear from an expert.
Knowing how to get bids on repairs and what repairs and improvements make a difference are very insightful. This book focuses many how to’s that can keep you out of trouble.
I recommend it for those contemplating buying investment property in this market, and for those who are currently landlords. Today’s market is different, and harder economic times means you need to cross your “t”s and dot your “i”s. There is more profit and risk at stake.
More families are renting now and facing economic hardship so it behooves you as a landlord not to take his contract and remodeling tips into consideration. Sprouse teaches you how to protect and grow your investment.

He has a great sense of humor in explaining his concepts as to why you should invest in fix up homes and helps teach you the “rules of the game.”

His tax and refinance information are useful and easy to comprehend.

He includes useful websites and reference materials to give you more advanced knowledge.

I hope he writes on contractors- how to choose them and how to get them to finish the job! I will be the first in line for a copy.

I received a complimentary review copy.

[Irene · Rating 4 out of 5]

With the down turn of the economy many fix-up houses are becoming available at extremely low prices and what a better time to buy than now. And, to begin all one needs to do is start with a small investment on one piece of property. It may be a scary thought since the buzz is the market is down, however, as Terry Sprouse advocates, "real estate is a the top of my list of sound investments." He continues to articulate that with rental property you can have a good cash flow. As well, there is a continued population increase therefore there will always be a demand for housing.

Sprouse also believes that buying fix-up houses reduces risk; "pay less money up front and monthly" and "you increase your opportunity for profit because you have the built-in profit that can be used as investment for the next house you purchase." Having been in the construction industry for over 40 years and seeing many ups and downs of the economy I truly concur with him.

Sprouse's information is timely and well laid out. I don't believe he missed anything while proving the fix-up business is a viable venture. I encourage anyone that has considered buying fix-up houses but were afraid because of the buzz created by the media to read "Fix Em Up Rent Em Out." It is full of important information, not only that it is a good and safe investment, but also pointers on repairing and renting, as well as tax law and bookkeeping.

Concise and to the point, Sprouse offers wanna be's the opportunity to step forward and fulfill a vision to become the be.

[Awdhesh Singh · Rating 5 out of 5]

This book is about making investment by buying old houses and then renovating them for giving them on rent or for selling. This book clearly explains the benefits of investing your money by providing lots of data and the experience of the author.
The book, however, goes much beyond investing as it gives you lots of tips to grow as a person and lead a better life. A quote of Lao Tzu "Beyond the economic side of the fix-up business, there is a spiritual side to repairing houses. It’s not just about making money or repairing houses. It’s also about growing as a person", summarizes the spirit of the book.

Some of the tips given by Terry has wider application than merely investing in houses. For example, at one place he advises, "Never miss an opportunity to do your own repair work. Think of it as part of your educational process. You lose two ways when you hire someone to do your work. First, you lose the chance of a free education, and second you lose the money that you would have saved by doing it yourself. It may take you four hours to change an electrical receptacle or fix a toilet that won’t flush, something a professional could do in minutes. Don’t be concerned, in the long run you have learned a skill to be used for the rest of your life".

This tip is something which you can use in any field of your life. Terry writes in a way that you enjoy reading the book. In addition to learn how to in house, you also learn how to to invest for your better life.

[Eddie Jong · Rating 5 out of 5]

Well rounded and informative without being boring.

Whether you are already in the Real Estate investing business, thinking about going into it, or haven't yet decided what to do to get that extra income or eventually leave your hated job, you have to read this book!

Terry's writing style is relaxed and fun, but at the same time his information is rock solid, practical and extremely useful.

Dealing in detail with the financial aspects of Real Estate investing to coping with tenants and all the potential problems they could create, the book gives details of applicable external resources throughout.

I especially like that Terry advocates making this your passion, see it as a growing opportunity for you as an individual and involving your family.

The statement made that you should channel your frustrations of your current job, and anger at your boss, productively into this passion, resonates with me personally. It was by doing this that I ultimately became an author. Within the first week of being retrenched from my job and deciding to go on early retirement, I published my first book.

If you start following Terry's advice while still having a 'normal' job, you will gradually build up a second income and security against a time when things might go bad.

[Richard Stephens · Rating 5 out of 5]

Great step by step explanation of how to buy, fix-up, and rent a house for profit. This book is filled with easy to understand table, worksheets, and real life examples on how to achieve your financial goals.